Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi Sells 2,000 Shares

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) CEO John Farahi sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $68.00, for a total value of $136,000.00. Following the transaction, the chief executive officer now directly owns 525,310 shares in the company, valued at approximately $35,721,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Monarch Casino & Resort Trading Up 0.0 %

Shares of MCRI opened at $68.13 on Friday. Monarch Casino & Resort, Inc. has a 12 month low of $56.25 and a 12 month high of $75.40. The stock has a fifty day moving average price of $67.55 and a 200-day moving average price of $68.82. The firm has a market cap of $1.28 billion, a PE ratio of 16.11 and a beta of 1.70.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings data on Wednesday, April 17th. The company reported $0.93 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.05). Monarch Casino & Resort had a net margin of 16.40% and a return on equity of 17.13%. The business had revenue of $121.66 million for the quarter, compared to analysts’ expectations of $122.13 million. As a group, research analysts forecast that Monarch Casino & Resort, Inc. will post 4.46 EPS for the current year.

Institutional Trading of Monarch Casino & Resort

Several hedge funds and other institutional investors have recently made changes to their positions in MCRI. DAVENPORT & Co LLC increased its position in shares of Monarch Casino & Resort by 3.7% in the 4th quarter. DAVENPORT & Co LLC now owns 1,187,370 shares of the company’s stock valued at $82,396,000 after acquiring an additional 42,235 shares during the period. Vanguard Group Inc. increased its position in shares of Monarch Casino & Resort by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,025,278 shares of the company’s stock valued at $63,670,000 after acquiring an additional 6,081 shares during the period. Pacer Advisors Inc. increased its position in shares of Monarch Casino & Resort by 74.7% in the 4th quarter. Pacer Advisors Inc. now owns 464,501 shares of the company’s stock valued at $32,120,000 after acquiring an additional 198,623 shares during the period. American Century Companies Inc. increased its position in shares of Monarch Casino & Resort by 14.5% in the 3rd quarter. American Century Companies Inc. now owns 211,068 shares of the company’s stock valued at $13,107,000 after acquiring an additional 26,786 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Monarch Casino & Resort by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 107,097 shares of the company’s stock valued at $6,651,000 after acquiring an additional 5,575 shares during the period. Hedge funds and other institutional investors own 62.37% of the company’s stock.

Analyst Upgrades and Downgrades

MCRI has been the subject of a number of analyst reports. StockNews.com upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Macquarie upped their target price on Monarch Casino & Resort from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Thursday, April 18th.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.